Today is July 31^st though it may as well be August seeing as the big market movers have already started their holidays and the price action today is acting accordingly. The forex market has been extremely sluggish this morning and it doesn’t seem like it wants to wake up anytime soon.

In this case, it´s best that we play the game with short-term forex signals. For that, we need to know where the closest support and resistance levels are, so let´s have a look at these levels for EUR/USD and USD/JPY. Hopefully, we´ll pull off a few trades and make some pips    

EUR/USD

Resistance                                                                   Support

1 – 1.1750-69 (Mild – The top today)                       1 – 1.1720 (Mild – Last week´s support)

2 – 1.1775-80 (Strong – The high in 3 years)         2 – 1.17 (Strong – Big Number)

3 – 1.18 (Mild – Big round number)                         3 – 1.1650 (Medium – 50 SMA)

4 – 1.1550 (Strong – Long term resistance)           4 – 1.16 (Strong)